Introduction

Abstract

The modern economy is influenced in countless ways by the advance of science and technology. New industries are born as a consequence of the mating of new technologies with new or existing consumer demand. Industries, old or new, shift their location and change their characteristics—and the nature of their work force—in response to technological change. The mechanism and style of management also change as new technology filters into the boardroom as well as the shop floor. The burgeoning literature devoted to pointing out the effects of technological change documents all this in detail—sometimes complete with color photographs and ringing phrases—in publications ranging from learned journals to Sunday supplements. Every schoolboy takes it for granted that technological advance is an enormously potent force that helps to shape the contours of the economy.